Yesterday I sold 1 GE Jan09 15 Put for a net deposit of $45.25 in an IRA account.  If put to me my basis on these GE shares would be 14.55.

My GE Dec08 15 Put expired worthless so I thought I’d do another.  Actually, I would be okay owning another 100 shares of GE at 15.  GE pays a decent dividend which it has “assured” us it will continue to pay for the foreseeable future.